Russia raises outlook for gas supply prices to Europe in 2016 to $199 per 1,000 cm

MOSCOW, October 23. /TASS/. The outlook of gas supply prices to Europe was adjusted upward by more than 14% to $199 per 1,000 cubic meters for 2015, Russia’s Ministry of Economic Development said on Friday.

The previous outlook targeted the non-CIS states gas supply price of $174 per 1,000 cubic meters.

The outlook for gas supply prices to Europe was also adjusted upward by 4.6% to $250 per 1,000 cubic meters for 2015, the ministry reported. The natural gas price was $239 per 1,000 cubic meters in the previous outlook of the Ministry of Economic Development for 2015.

The weighted average price of Russian gas supplies to Europe equals $238 per 1,000 cubic meters at the end of eight months, Deputy Chief Executive Officer of Gazprom Alexander Medvedev said earlier. 158 bln cubic meters of gas are planned to be supplied throughout 2015.

Russia’s gas export will total 170 bln cubic meters in 2015 and 174.7 bln cubic meters in 2016 according to the outlook.